RIO DE JANEIRO, BRAZIL - A study by the Ministry of Economy proposes the end of medical expense deductions in exchange for a decrease in personal income tax rates.
Deductions permit lowering the amount of tax to be paid or increasing the refund to be received.
Study estimates point out that the end of the deduction of medical expenses may be offset by reducing the rates of all income brackets by eight percent.
The change has the potential to reach a more significant number of Brazilians who pay income tax and would cost the public coffers less, according to the government . . .